We expect a 25bp rate cut by the ECB today. Consensus is unanimous, and markets are fully pricing in the move, so the impact on the euro may prove limited, ING's FX analyst Francesco Pesole notes.
Litecoin (LTC), Bitcoin Cash (BCH), and Dogecoin (DOGE) experienced significant rallies today, as nine proof-of-work cryptocurrencies surged following Nvidia's announcement of a $5.5 billion charge due to U.S. restrictions on its AI chip sales to China .
Pound Sterling (GBP) is up 0.3% vs. the US Dollar (USD) and a mid-performer among the G10 currencies as it extends its gains for a seventh consecutive session and pushes toward its prior (September) highs around 1.34, Scotiabank's Chief FX Strategist Shaun Osborne notes.